World Acceptance Corp. (NASDAQ: WRLD): Kaplan Fox Investigates Potential Securities Fraud at World Acceptance Corp.

February 26, 2024 at 14:59 PM EST

NEW YORK, NY -

(NewMediaWire) - February 26, 2024 - Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of World Acceptance Corp. (“World Acceptance” or the “Company”) (NASDAQ: WRLD). Click Here to Join Investigation.

If you acquired WRLD securities and would like to discuss our investigation, please click here or contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.

On February 23, 2024, after the market closed, the public version of a Decision and Order (the “Order”) of the Consumer Financial Protection Bureau (“CFPB”) was published concerning World Acceptance. Pursuant to the Order, the CFPB ordered Federal Supervision of World Acceptance because it “is engaging, or has engaged, in conduct that poses risks to consumers with regard to the offering or provision of one or more consumer financial products or services.” Among other things, the Order states as follows:

“World Acceptance does not adequately explain to its customers that the insurance coverage World Acceptance offers is optional, which may cause consumers to be deceived or mislead into purchasing coverage they do not want or need. . . ”
The CFPB “has reasonable cause to determine that World Acceptance engages in excessive, harassing, and coercive collection practices. . . ”
The CFPB “has reasonable cause to determine that World Acceptance furnishes inaccurate information to consumer reporting agencies or fails to adequately respond to consumer disputes regarding the accuracy of information it has furnished. . . “
The CFPB “has reasonable cause to determine that World Acceptance’s business model relies on serially refinancing its loans, a practice that may harm consumers in a variety of ways.”

Following this news, the price of World Acceptance stock fell by over $10 per share, or about 8%, in midday trading on February 26, 2024, the first trading day following the news.

WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.